Asphalt (HS: 27081000) is a viscous, black, semi-solid substance derived from the refining of petroleum or processing of natural asphalt ores, primarily used in fields such as road construction, waterproofing materials, and building construction。

       In China, asphalt serves as a critical construction material and a raw material for infrastructure development, finding widespread market applications. As one of the world's largest road construction markets, China relies significantly on asphalt for its road-building efforts. The extensive urbanization and infrastructure development in China have led to a continuous rise in demand for asphalt concrete roads. Furthermore, as China's urbanization process advances, the construction of residential and commercial buildings requires substantial quantities of asphalt materials. Asphalt roads not only provide convenient transportation but also support logistics and the movement of people. China's development and urban expansion have also increased the demand for transportation infrastructure. With the government's strong push for infrastructure investments, the demand for asphalt has been increasing year by year. Similarly, some countries with well-developed infrastructure but limited petroleum resources also have significant procurement needs.

      According to Chinese customs data, the total asphalt (HS: 27081000) exports from China in 2022 reached 745,000 tons, representing a year-on-year growth of 22.5%. From January to June 2023, cumulative exports amounted to 370,900 tons, indicating an 8.3% year-on-year increase.

       From the perspective of the average unit price, the market has maintained an upward trend since the COVID-19 pandemic in 2020. The average unit price has increased from $0.46 in 2020 to $1.09.

Export year-on-year

       The import and export situation of asphalt is influenced by various factors such as country, region, and market demand, resulting in differences. China's primary asphalt export markets are mainly concentrated in Asia and Europe, including countries such as the United Arab Emirates, Bahrain, Saudi Arabia, Qatar, Oman, Russia, New Zealand, Canada, and others. Additionally, with the development of China-Africa cooperation projects, the African market is showing potential growth, with countries like South Africa and Nigeria gradually increasing their demand for asphalt year by year.

       Simultaneously, as market dynamics continue to evolve, many markets are undergoing significant changes in their supply chains. Markets such as Turkey, Kazakhstan, Turkmenistan, and Chile are in the process of transitioning from relatively limited asphalt supply to gradually increasing their supply capabilities.

It's worth noting that some oil-producing countries, such as Saudi Arabia, Russia, and Iran, may export asphalt as one of their petroleum by-products.

Notes：Market share

       Please note that the asphalt market is influenced by factors such as road construction, infrastructure investment, and construction activities. Therefore, import and export situations may fluctuate with changes in economic development and construction projects. If you require the latest import and export data, please feel free to call for consultation.

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